Fact: The E.W. Scripps Co. had more revenue in the second quarter of 2020 than one year ago. That’s thanks to additional TV stations, gained from divestments tied to Nexstar Media Group’s merger with Tribune Media and the acquisition of 15 of Cordillera Communications’ 16 stations.
Fact: Its operating expenses surged.
As such, the media company that has agreed to sell its podcasting business to Sirius XM for $325 million widened its net loss in a big way, as local media profit declined by 41%.
It wasn’t a surprise to those in Scripps’ C-Suite.
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